SPX News by Allie Longford on 08:30 January 06, 2017 EST
U.S. employment increased less than expected in December but a rebound in wages points to inflation down the line.
Nonfarm payrolls increased by 156,000 jobs last month, the Labor Department said on Friday. The December results were boosted by more hiring in health care and social assistance, whose gain of 63,300 workers, the most since October 2015
October and November's data was revised to show 19,000 more jobs added than previously reported.
The US economy created 2.16 million jobs in 2016.
Average hourly earnings increased 10 cents or 0.4 percent while the year-on-year increase in average hourly earnings to 2.9 percent, the largest increase since June 2009, from 2.5 percent in November. The average work week for all workers was unchanged at 34.3 hours.
The unemployment rate ticked up to 4.7 percent from a nine-year low of 4.6 percent in November as more Americans joined the labor market. The participation rate increased to 62.7 percent, from 62.6 percent. It is almost at its lowest level in more than three decades.
Stocks did not react to the news release and the Dow is still unable to cross the 20,000 mark, EURUSD remained broadly unchanged although jittered around the 1.055 figure, USDCHF up half a cent while gold and oil did not mind.